(Host) Vermont and Michigan have teamed up to save money on prescription drugs for Medicaid patients.
Governor Jim Douglas announced at his weekly news conference that the two states will pool their drug purchases. He says that when the two states work together, they can get large discounts from the drug companies.
(Douglas) “Vermont currently spends nearly $93 million a year on pharmaceutical costs for our 139,000 Medicaid and other low income recipients. This multi-state arrangement will give us even greater buying power. It should result in significant savings.”
(Host) Michigan and Vermont both get to use the same pharmacy benefits manager to negotiate with drug companies. Douglas says other states are also interested in joining the discount purchase plan.